Microsoft Agrees to Buy Minecraft Game Company

Coders work in the Mojang company office in Stockholm, Sweden, Jan. 21, 2013.

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Microsoft Agrees to Buy Minecraft Game Company

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Microsoft has agreed to buy the company that developed the hit video game "Minecraft" for $2.5 billion.

Microsoft is a huge technology company known for selling business software. Minecraft creator Mojang is a much smaller firm based in Sweden that has sold more than 50 million copies of the game for use on personal computers, smartphones, and game consoles like Microsoft's X-box.

Minecraft is the largest selling paid application (program) on Apple, Google, and Android systems, but Mojang has not made a version for Microsoft's poorly-selling smart phones.

Analysts quoted in the financial press say the acquisition might help Microsoft improve its performance in the highly competitive smart phone arena, as well as give a boost to sales of its game console business.